Trust Estates as Business CompaniesCounselors Publishing Company, 1912 - 387 страница |
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Чести термини и фразе
accrued agent agreement and declaration applied appoint ARTICLE assets association authority Bank beneficiaries benefit Bubble Act capital carrying certificate holders cestuis que trust Charles Francis Adams cited claim common shares corporation coupons court of equity created creditors debts declaration of trust deem default directors discretion duties elect embarked in trade entitled execution executor expressly Gordon Abbott held hereby hold income indemnity indenture interest investment joint stock legal title lien Mass Massachusetts Gas Companies meeting ment merely notes issued hereunder number of shares officers owner paid parties partnership payable payment personal liability plaintiff power of alienation preferred shares principal Promisors purchase purpose reason resident rule rule against perpetuities securities settlor shareholders statute stipulate stockholders Subscribers supra thereof tion transferable shares trus Trust Company trust estate trust fund trust instrument trust property trustee's vested vote
Популарни одломци
Страница 191 - It is very true that a corporation can have no legal existence out of the boundaries of the sovereignty by which it is created. It exists only in contemplation of law, and by force of the law ; and where that law ceases to operate, and is no longer obligatory, the corporation can have no existence. It must dwell in the place of its creation, and cannot migrate to another sovereignty.
Страница 31 - A trustee may be defined generally as a person in whom some estate, interest, or power in or affecting property is vested for the benefit of another. When an agent contracts in the name of his principal, the principal contracts and is bound, but the agent is not. When a trustee contracts as such, unless he is bound no one is bound, for he has no principal. The trust estate cannot promise; the contract is therefore the personal undertaking of the trustee.
Страница 116 - No interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest.
Страница 116 - Upon the authority of these cases, and of others which are to be found in the books, as well as upon general principles, this court is of opinion that, in a case of fraud, of trust, or of contract, the jurisdiction of a court of chancery is sustainable wherever the person be found, although lands not within the jurisdiction of that court may be affected by the decree.
Страница 195 - Beyond doubt those words are words of very 'comprehensive meaning, but it will be sufficient to say that the clause plainly and unmistakably secures and protects the right of a citizen of one State to pass into any other State of the Union for the purpose of engaging in lawful commerce, trade or business without molestation ; to acquire personal property, to take and hold real estate, to maintain actions in the courts of the State, and to be exempt from any higher taxes or excises than are imposed...
Страница 307 - ... shall be entitled to receive, and the corporation shall be bound to pay thereon, a fixed yearly dividend, to be expressed in the certificate, not exceeding eight per centum, payable quarterly, half yearly or yearly, before any dividend shall be set apart or paid on the common stock...
Страница 331 - Not less than seven directors shall constitute a board for the transaction of business, of whom the president shall always be one, except in case of sickness or necessary absence ; in which case his place may be supplied by any other director whom he, by writing, under his hand, shall depute for that purpose. And the director so deputed may do and transact all the necessary business, belonging to the office of the president of the said corporation, during the continuance of the sickness or necessary...
Страница 162 - All personal property held in trust by any executor, administrator, or trustee, the income of which is to be paid to any other person, shall be assessed against the executor, administrator, or trustee...
Страница 192 - ... there, arises where the corporation is in the employ of the Federal Government, or where its business is strictly commerce, interstate or foreign. The control of such commerce, being in the Federal Government, is not to be restricted by State authority.
Страница 88 - No company association or partnership consisting of more than twenty persons shall be formed for the purpose of carrying on any business . . . that has for its object the acquisition of gain by the company association or partnership or by the individual members thereof unless it is registered as a company under this Part or is formed in pursuance of some other part of this Act . . .